History
Prior to 1974, there was no Congressional Budget Office nor budget resolution process. When President Richard Nixon began to refuse to spend funds that the Congress had allocated, Congress needed a more formal means by which to challenge him. The resulting Congressional Budget and Impoundment Control Act of 1974 created the Congressional Budget Office and directed more control of the budget to CBO and away from the President's Office of Management and the Budget. The Act passed easily as the administration was then embroiled in the Watergate scandal and unwilling to provoke Congress.
Read more about this topic: Budget Resolution
Famous quotes containing the word history:
“History ... is, indeed, little more than the register of the crimes, follies, and misfortunes of mankind.
But what experience and history teach is this—that peoples and governments have never learned anything from history, or acted on principles deduced from it.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“The history of the world is the record of the weakness, frailty and death of public opinion.”
—Samuel Butler (1835–1902)
“What is most interesting and valuable in it, however, is not the materials for the history of Pontiac, or Braddock, or the Northwest, which it furnishes; not the annals of the country, but the natural facts, or perennials, which are ever without date. When out of history the truth shall be extracted, it will have shed its dates like withered leaves.”
—Henry David Thoreau (1817–1862)